FXWW News/GBP crosses/Trade Ideas

GBP: Not ready to take a pounding

Cable has rallied back towards 1.6100 but still remains inside recent ranges. The trend remains bullish and I expect to see a test of 1.63ish in coming days. I’m not sure if momentum is strong enough to take it straight higher to 1.65+ and I’m prepared for some 1.58/1.63 range trading over next few weeks.

EUR/GBP looks like a very clear-cut sell-rallies play to me. I’m building a longer-term short position for a move toward .77 minimum and I see all 100 pip rallies as selling opportunities.

(Sorry about that headline pun, pretty sad and so early in the day 🙂 )

  1. hi Sean, morning, other than cable, what your view to GBPAUD, this pair seen have a double bottom 1.687, but yesterday nite it still can’t break over the neckline at 1.718, in your mind would it worth to buy @ 1.710?? thanks

  2. Hi Jack, if neckline holds then I would not be buying shallow dips, best wait for much deeper retracements. If neckline breaks, then certainly yes would buy shallow dips. Hope that makes sense?

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